President Obama addressed the American people on the Syrian conflict, and where the U.S. goes from here, after headlines for a diplomatic resolution inundated media outlets on Tuesday. Barack Obama started the speech with a strong case for a ‘yes’ vote in Congress, saying "We know Asssad's government was responsible" Iran would be emboldened.... "This is not a world we should accept'' , although making clear that the U.S. "will not put American boots on the ground in Syria."

As the speech progressed, a more conciliatory Obama emerged, saying that after the Russian proposal to place under international control Syria's alleged chemical weapons - which Assad's government agreed to -, he asked Congress to postpone a vote on Syria action while diplomacy is pursued, adding that Assa's initiative has the potential to remove weapons without use of force. Obama also said: "Over the last few days we’ve seen some encouraging signs, in part because of the threat of military action." Since Obama was specific about the slim chances of an immediate attack, the speech supports the recent bid on risk assets.http://blog.fxcc.com/market-analysis

Upwards scenario: GBPUSD is approaching our key resistive measure at 1.5744 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.5767 (R2) and 1.5789 (R3). Downwards scenario: On the downside, currency pair might encounter supportive measures at 1.5711 (S1). Break here would open the way for a test of our next targets at 1.5689 (S2) and 1.5666 (S3) later on today.

Upwards scenario: Mark at 100.65 (R1) acts as next resistive barrier on the way if the instrument keeps it upside potential. Break here is required to achieve higher targets at 100.93 (R2) and 101.19 (R3) later on today. Downwards scenario: Risk of market weakening is seen below the support level at 100.12 (S1). Loss here is required to enable our supportive barrier at 99.85 (S2) en route towards to final target for today at 99.59 (S3).